This mornings release by the American Association of Individual Investors of its weekly investor sentiment survey shows the individual investor continues to become less bullish on the equity markets. The bullish sentiment level declined to 32.2% versus last weeks 38.1%. At the end of December the bullish sentiment reading equaled 55.1%. The bull/bear spread stood at +36.5 at the end of December and now has turned negative at -.6. The sentiment measure is a contrarian one and tends to most accurate at its extremes.
|From The Blog of HORAN Capital Advisors|